document.write( "Question 1125761: To start a mobile dog grooming service, a woman borrowed $3000. If the loan was for 2 years and the amount of interest was $204, what simple interest rate was she charged? \n" ); document.write( "
Algebra.Com's Answer #742073 by MathLover1(20850)\"\" \"About 
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\n" ); document.write( "\n" ); document.write( "use simple interest formula:\r
\n" ); document.write( "\n" ); document.write( "\"I=Prt\" where \"I\" is interest, \"P\" is principal (initial value), \"r\" is interest rate and \"t\" is time in years\r
\n" ); document.write( "\n" ); document.write( "given:\r
\n" ); document.write( "\n" ); document.write( "a woman borrowed $\"P=3000\"
\n" ); document.write( "the loan was for \"t=2\" years\r
\n" ); document.write( "\n" ); document.write( "the amount of interest was $\"I=204\"\r
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\n" ); document.write( "\n" ); document.write( "\"204=3000%2Ar%2A2\"\r
\n" ); document.write( "\n" ); document.write( "\"r=204%2F%283000%2A2%29\"\r
\n" ); document.write( "\n" ); document.write( "\"r=cross%28204%29102%2F%283000%2Across%282%29%29\"\r
\n" ); document.write( "\n" ); document.write( "\"r=cross%28102%2951%2Fcross%283000%291500\"\r
\n" ); document.write( "\n" ); document.write( "\"r=51%2F1500\"\r
\n" ); document.write( "\n" ); document.write( "\"r=0.034\"\r
\n" ); document.write( "\n" ); document.write( "so, interest rate is \"3.4\"%\r
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